PRPL · Purple Innovation, Inc.

Purple Innovation, Inc. faces imminent risk of delisting from Nasdaq due to persistent non-compliance with the Minimum Bid Price Requirement under Listing Rule 5450(a)(1), where its Class A common stock closed below $1.00 per share for 30 consecutive business days as initially notified on November 5, 2025. The company exhausted its 180-calendar-day compliance period ending May 4, 2026, without regaining the threshold and is ineligible for additional time. Nasdaq's May 5, 2026 letter triggers suspension at market open on May 14, 2026, and SEC Form 25-NSE filing unless appealed. By committing to appeal before May 12, 2026, to the Nasdaq Hearings Panel, trading continuity is anticipated during the process. This appeal mechanism provides temporary relief, but success hinges on demonstrating a viable compliance plan, such as a reverse stock split. Failure could shift shares to over-the-counter markets, eroding liquidity, visibility, and institutional investor access, amplifying share price pressure.